Many people still have loans that are underwater.
Those that are underwater, their interest rates on average are between 5% & 6.5%.
The average savings is between 200 to 350 per month for these families and some families experience see between a 600 to 700 per month in savings on their loan payment. WOW.
Absolutely, that’s right.
That’s a huge savings per month, per year, over 5 years, over 10 years & over the life of the loan.
Is this possible?
HARP stands for: Home Affordable Refinance Program.
To be eligible for a HARP Loan, your mortgage must be owned by Fannie Mae or Freddie Mac.
What if my loan has mortgage insurance?
Your new loan that we do will continue to have mortgage insurance. We can transfer your mortgage insurance from your current loan to the new loan. Your mortgage insurance payment will not increase.
To find out if you can refinance with a HARP loan, go to: www.wedohomeloansforyou.com/harp
Ben Gerritsen is a HARP loan specialists and can help you with your harp loan refinance.[shareaholic app="share_buttons" id="27157108"]